JPMorgan Earnings Call, Second Quarter 2008
19th July 2008 00:00 AM |
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| Profit plunged to $2 billion, stung by $1.1 billion in writedowns, but the firm still managed to beat Wall Street projections. |
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| Revenue slipped to $18.40 billion from $18.91 billion previous year. Commercial banking net income grew to $355 million, up from less than $300 million a year earlier. Investment Bank net income was $394 million, a decrease from net income of $1.2 billion in the prior year. Retail Financial Services net income was $606 million, a decrease of $179 million, as increase in the provision for credit losses in Regional Banking was offset largely by revenue growth in all businesses. |
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JP Morgan Chase First Quarter Earnings Call
22nd April 2008 00:00 AM |
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| Earnings were $2.4 billion or 68 cents a share, down 49% from $4.8 billion or $1.34 a share in 2007 as market credit conditions remained challenging. |
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| The financial services firm reported a 9% decline in managed net revenue to $17.9 billion. JP Morgan announced the planned acquisition of Bear Stearns which is expected to provide a unique opportunity to enhance ability to serve clients by adding new capabilities in prime brokerage and clearing. Expectation for the economic environment remain weak and under stress, but strength in liquidity, credit reserves, capital and operating margins augurs well for the future. |
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JPMorgan Fourth Quarter Earnings Call
21st January 2008 00:00 AM |
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| Profit declined 34% to $3 billion after suffering a $1.3 billion subprime-related hit. |
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| JPMorgan’s revenue rose 7% to $17.4 billion, beating estimates of $17.05 billion. The company reported a $1.3 billion writedown in the company''''s investment banking arm, due to the decline in value of its subprime holdings. Investment banking fees were $1.7 billion, up 5% from the prior year, reflecting record advisory and equity underwriting fees, largely offset by lower debt underwriting fees. Checking accounts totaled 10.8 million, up 844,000, or 8%, from the prior year. |
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